I’m planning to redeem my credit card reward points for vouchers and flights—how much is one point actually worth in rupees?
In India, the worth of one credit card award point can vary between ₹0.25 to ₹1, as per the credit card company and the mode of redemption that you are using.
Typical Reward Point Value Based on Redemption Type:
-
Gift Vouchers: ₹0.25 to ₹0.50 per point
Most of the banks can provide points redemption in the form of vouchers with brands such as Amazon, Flipkart, or BigBazaar. Or an example will be that you get a 250 rupees voucher (250/1000) of the points you have accumulated (or 0.25 rupees per point). -
Flight Bookings: ₹0.40 to ₹0.75 per point
Better value is obtained by redeeming flight (in case your bank has an airline tie- up or a travel portal). There are super deluxe cards with still higher rates. -
Cashback or Statement Credit: ₹0.20 to ₹0.50 per point
It is the most common least rewarding one. There are other cards where points can be converted into a statement credit at a lower value per point. -
Product Catalogue: ₹0.20 to ₹0.40 per point
In the event that you use points toward electronics, gadgets or what is considered lifestyle items the value lies within the marked up catalog pricing. -
Hotel or Travel Partners (Air Miles): ₹0.50 to ₹1 per point
The most valuable ones are usually cards tied to large networks of loyalty programs such as Marriott Bonvoy or Flying Returns of Air India.